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The General Director of
Insurance Company «ROSNO Ukraine» Konstantin Bergmann is insured against sue charges.
– Against what are you insured?
– My house and property inside are insured. There is also responsibility insurance policy for the whole family — in case I accidentally break anything in the shop, or my kids, God forbidden, scratch anything. Also I have third party legal liability.
There is also such exotic for post-Soviet area insurance policy which hedges client expenses, connected with possible court proceedings. That is, in case I need an attorney, who will defend my position, the insurance company is to pay for all sue charges and attorney’s fee.
There are accident insurance policies for the whole family — for me, my wife and children. More over, for children the policy is accumulative. In Germany there is such interesting combination – casualty risk policy with accumulation. Besides, there are policies for going abroad, my automobile and motorbike are insured. …By the way, think it’s necessary for me to calculate how much I spend on insurance. All insurance policies are in Allianz.
Negative experience
– Have insurance companies ever cheated you?
– Its usual negative experience that we all can have when finding ourselves in a specific situation – you insured something but when insured event occurred, the insurance company restitutes not really as fast as you expected. Situation when you have to wait is always uncomfortable. The restitution is always not really fast. Fast means to solve the case right at the place of road traffic accident. But it never happens.
– And for how long did you have to wait?
– About three weeks. My car was damaged heavily in a road accident. I didn’t have to wait for the experts to arrive and estimate the losses – all was in order and due time. But the process of documents compiling was really long, though I understood that three weeks is an average period of time.
– Where did you lose money the most?
– Once I invested in the investment trusts. In the year of 1999, when the market declined I lost about 30% of all my deposits. But it was not final loss, I didn’t sell holdings at that moment and in the course of time they paid off. At present these deposits are on the level “plus 20 %”.
– What capital investment brought to you the maximum profit?
– These are Allianz shares (shareholder of Russian insurance company «ROSNO», which is in its turn is the owner of Insurance Company "ROSNO Ukraine". — «DELO»), as they were bought rather cheap.
– In what would you recommend a private investor to invest money in Ukraine?
– As an underwriter I would certainly recommend to invest money in accumulative life insurance. From one side it protects against such risks as disease or death, from another side it can provide very attractive investment income.
The insurance companies invest their money in different market segments. That is why their profitability is comparable with banks’ one, though it is lower, as there is some risk margin which is taken for the insurance coverage.
– In what currency it is better to insure life?
– Any is OK. At present moment binding dollar to grivnya is stable.
Customers are not ready yet
– What is your opinion as to the idea of the investment insurance when customer can choose by himself where to an insurance company can invest his money?
– Surely as a businessman I have to admit that it is interesting and profitable. But this product is not ready yet for the majority of prospective customers. As it expected from them to have some specific knowledge of the investment sphere/ But if there is one, and clients make their decision and realize there investments risks, in this case it’s undoubtedly an interesting product. I think that at present our market is not really ready for consuming such products, and I would advise to buy ordinary standard life insurance with guaranteed profitability.
– When and in which company have you bought insurance policies?
– My first policy I bought in 1993 or 1994 when started my education in insurance business. Later on, I’ve bought a life policy which had accumulative and risk parts. When in my life appeared additional risks, such as house construction and, accordingly, a bank construction loan, I concluded another exclusively risk life policy for my wife and myself. This is a family policy, as both of us are investors in this “business project” of our life. All three agreements are with Allianz insurance company.
– How would you choose an insurance company?
– First of all, such company must prove longstanding – that is dozens of the years – positive results of its business activity. The more such dozens, the more stable such company looks for me.
– To whom from the underwriters, represented on the Ukrainian life insurance market would you trust insurance of your life and lives of your relatives?
– I would trust my life insurance in Ukraine to the company, which maximum longer shows its positive dynamics at the market.
– Except for the insurance in what would you recommend to invest money?
– I would diversify risks. Bank is good. It means a guaranteed income, but it’s clearly understood that it is rather short-term income – the agreements are concluded for a half a year, a year or two. Two years period is maximum one for today. We all need “long” money for what may happen tomorrow. For example for pension or for children, when they will be 18 years old and need some support for education or anything else. For such things it is necessary a long-term instrument. It can be a life insurance, investment insurance or shares, in case you realize what kind of instrument they are.
– Do you have bank accounts?
– I do in Dresdner Bank, SEB bank, Master-bank in Russia and SEB in Ukraine.
– In what currency?
– I have deposits in four currencies: in dollars, EURO, grivnyas and roubles.
– Do you invest in security papers?
– I have shares of my mother company, but this is connected with “golden cuffs” system, which exists in German Allianz. When I used to work in the company, they offered to me to buy with some discount shares of Allianz insurance company. I possess them and surely I will keep them till my pension. It is rather interesting instrument.
– What is your interest in Allianz?
– Not really big. It’s about 3%.
– In shares of what companies would you recommend to invest money?
– I don’t recommend investing in shares, less you understand anything in this. I am a person, who is closely connected with financial world, but still I cannot say that I am a specialist in the share investment issues. I trust management of my assets to the professionals, and they will diversify risks for me.
– Do you work with domestic trusts?
– I don’t invest in Ukraine or in shares of Ukrainian companies. I am not sufficient enough in this. Though, I can admit that this market is growing for 20-30% annually. I practically don’t have enough time for examining this.
– Which project do you consider to be the most successful?
– If it is possible to call “project” than it is my family. This is a backing which enables me to do what I do from morning till night. I consider this to be the most right project which I’ve ever joined.
– By what are you guided in the questions of finances?
– In our business there is a specific ethics, it must be observed obligatory – we pay taxes, are not involved in any “black” or other “behind the throne” business. These principles I cannot break either inward or outwardly.
– But these are corporative principles. And what principles have you got from your own experience?
– Honesty - is the major principle. And respect to other people. Any lie will come out and more likely it will happen in the most unfavorable moment. From any relations, no matter business or friendship, if they are not based on clear list cannot come anything good. Decency and respect. Treat people the way as you want them to treat you. Under such conditions it may be really interesting and for long.
Everybody is invited to steal
– Have you ever been bribed to participate in financial fraud?
– Yes, I have been and many times. Speculations and insurance fraud were offered as well as by strangers so by company personnel. Frauds were financially interesting and promised good profit. I was offered to insure property, that was already damaged, or to insure the property backdated. Alas! All who work in insurance business can front this. I don’t trust people who worked for many years in insurance and say that they were never been bribed. Just don’t believe them. But this is the question of personal principles.
– If any conflicts happened in your business what are their causes?
– They are connected with the offers of insurance fraud or with frauds which came out. Sometimes, when impudence overpasses all limits, an insurance company commonly takes the case to court. But the most difficult business situations appeared when the problems are solved “amicably”. When in front of you is sitting an individual, whom you caught by his hand and you have very rough conversation, as you fully understand that people sitting in front of you are trying to steal your money….
– On what did you spend your fist salary?
- Don’t remember exactly, but I’m afraid it was spent on petrol. I adore automobiles immensely, do like driving.
– How old were you?
– About 18 years old. Besides, I earned money long time before an official salary, had some additional earnings. When I was 15 years old I didn’t get any money from my parents and all – from socks to automobile purchase – I decided by myself.
– On what would you spend your last $100?
– I hope that it never happens. But if we admit that I have only $100, than I am at a desperate position. Under such circumstances I would give them to a person whom it really can help. To a person who is full of hope and optimism.
Ormotzadzee Margarita |
